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Do European real estate stocks hedge inflation? Evidence from developed and emerging markets

Listed author(s):
  • Chyi Lin Lee
  • Ming-Long Lee
Registered author(s):

    This study examines the inflation hedging properties of real estate stocks in developed and emerging European markets over 1990 to 2011. A dynamics ordinary least squares (DOLS) regression is employed to study the long-run inflation properties of European real estate stocks. The preliminary results show that developed real estate stocks provide a positive inflation hedge against expected inflation over the long run, while no similar evidence is found in the emerging markets. The finding suggests that the inflation-hedging properties of real estate stocks are related to institutional involvement in the real estate stock markets. The finding could have profound implications to institutional investors.

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    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2012-155
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    Paper provided by European Real Estate Society (ERES) in its series ERES with number eres2012_155.

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    Date of creation: 01 Jan 2012
    Handle: RePEc:arz:wpaper:eres2012_155
    Contact details of provider: Web page: https://eres.architexturez.net
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